The story with AbbVie NYSE: ABBV in 2024 is that it fell off a patent cliff but survived. It survived and continues to thrive because of its strengths in its core immunology portfolio and diversification efforts.
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It is no surprise investors have responded positively to AbbVie's latest results considering revenue growth, earnings outlook upgrade, and dividend increase. The company also has growth catalysts in place, especially with its treatment for Parkinson's disease showing positive trial results. However, its P/E is high for now, and its recent acquisition of Aliada Therapeutics risks being a drag on earnings.
AbbVie Inc. (NYSE:ABBV ) Q3 2024 Earnings Conference Call October 30, 2024 9:00 AM ET Company Participants Liz Shea - Senior Vice President, Investor Relations Robert A. Michael - C hief Executive Officer Jeffrey R.
ABBV's third-quarter 2024 earnings and sales beat estimates. The company increases the EPS guidance on encouraging product sales for immunology drugs.
Although the revenue and EPS for AbbVie (ABBV) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
On Wednesday, AbbVie Inc. ABBV reported third-quarter adjusted EPS of $3.00, up from $2.95 a year ago, beating the consensus of $2.92.
AbbVie (ABBV) came out with quarterly earnings of $3 per share, beating the Zacks Consensus Estimate of $2.92 per share. This compares to earnings of $2.95 per share a year ago.
The drug maker increased dividend by 5.8% to $1.64 per share.
AbbVie raised its annual profit forecast on Wednesday after strong sales of its newer immunology drugs and key cancer treatment helped the company beat Wall Street estimates for third-quarter earnings.
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